Bought to open VIX 7/20 expiration $32.50 strike calls
Bought 40 contracts of VIX 7/20 expiration $32.50 strike calls at $0.40. Total cost including commission is $1637.99, or $0.4094975/share.
This is simply a hedge I am putting on instead of the SH long position to cover the residual probability of a Brexit. The expiration is selected relatively far away, because I think that in the event we do get a “leave” vote, volatility would expand and prices would trend down for a while. So this is meant to take advantage of that.